1) v. phooning is the act of striking a pose where all the limbs are bent at the joints, and the body is bent forward at the waist. One of the arms is rotted towards the front, and the other is rotated towards the back. The foot not touching the ground hangs over your butt. Both arms should be on opposite sides, it doesen't matter which one is towards the front or back.
2) n. the picture of a phooning person